Scheme merger update

You may be aware that there is another pension scheme within the Heidelberg Materials Group called the No. 2 Pension Scheme. The Trustee and Heidelberg Materials made the decision to merge this scheme into the HIPS Defined Benefit Scheme (HIPS DB).

The merger has now been successfully completed, and all No. 2 Scheme members are now part of HIPS DB. This change does not impact your benefits within the Scheme.

Bringing both schemes under a single governance structure will reduce both trustee and management time while also improving the security of members’ benefits. Due to HIPS DB’s larger size, this merger does not materially affect its stability. Additionally, as both schemes were already managed by the same administration team, no transfer of knowledge or information needed to take place.